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China to boost funding support for projects as economy slows


Added 06-10-19 11:04:02pm EST - “China said on Monday that it will allow local governments to use proceeds from special bonds as capital for major investment projects, in a bid to support the slowing economy amid an escalating trade war with the United States. Local…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “China to boost funding support for projects as economy slows”. Below is an excerpt from the article.

BEIJING (Reuters) - China said on Monday that it will allow local governments to use proceeds from special bonds as capital for major investment projects, in a bid to support the slowing economy amid an escalating trade war with the United States.

Local governments should use special bonds for major projects including highways, gas and power supply and railways, Xinhua state news agency said, citing a cabinet document.

That would help "increase effective investment, improve economic structure, stabilise aggregate demand and maintain sustained and healthy economic development", Xinhua said.

"On the basis of increasing the size of special bonds by a big margin, we should strengthen macro-policy coordination and maintain reasonable and sufficient market liquidity."

Monetary policy should be appropriate to support special bond issuance and project financing, while financial institutions should ensure reasonable financing needs of major projects, Xinhua cited the cabinet as saying.

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